Vfma Academy FY2024 filing

Tax-deductible

Wayne, PA501(c)(3)EducationEIN 92-3171024

Educational institution focused on building leadership through a military environment.

501(c)(3) charity; gifts are tax-deductible.
67¢ of each $1 spent went to programs.
$43K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 2
filings with a surplus
Average deficit $1.3M a year · 21% of revenue · last 2 filings
Concern: a surplus in 0 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
67%
of spending
Fine: 67% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$43K
to officers and key staff · 0.6% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.7 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.4M
277% of total assets
Concern: liabilities are 277% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.9M
Spent
$7.8M
To programs
67%
Net assets
−$910K
By yearFY2024–FY2025
Revenue
$6.9M
FY2024
Revenue by fiscal year
FY2024$6.9M
FY2025$5.8M
Expenses
$7.8M
FY2024
Expenses by fiscal year
FY2024$7.8M
FY2025$7.5M
Net assets
−$910K
FY2024
Net assets by fiscal year
FY2024−$910K
FY2025−$2.6M

From the FY2024 Form 990 (year ending June 2024) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

67 cents of each dollar spent went to programs.

Program services 67% · $5.2M Management & general 32% · $2.5M Fundraising 2% · $146K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

5 people listed on the 990; $43K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Head of School
$43,091Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

Lauren Wochok’s $110K as Head of School (end 9/2024) is at the 39th percentile of top reported officer pay among 3395 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024
Lauren Wochok$110,409$43,091
Aaron Barkley$105,443—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Develops leaders through a military-style educational environment.

Provided by the organization

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1 program service account for $5.2M of program spending, described in the organization's own filed words · FY2023.
01

Valley forge provides cadets with an educational experience built on our five cornerstones: academic excellence, character development, personal motivation, physical development, and leadership.

$5.2Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 2 grants · $2.7M · 2023–2024
Unitemized GrantFY2024$1,233,430
Unitemized GrantFY2023$1,497,262

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$6.9M
Ln 12
Fees for servicesLn 2g$5.3M
Gifts and grantsLn 1h$1.1M
Other incomeLn 4–11$451K
Money outPt IX
$7.8M
Ln 25
Programscol B$5.2M
Managementcol C$2.5M
Fundraisingcol D$146K
Owns and owesPt X
−$910K
net assets · Ln 32
Cash and savingsLn 1–2$441K
Total assetsLn 16$513K
LiabilitiesLn 26$1.4M
PeoplePt VI, VII
5
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1M
Fees for servicesLn 2g$5.3M
Investment incomeLn 3$2K
Other incomeLn 4–11$451K
Total revenueLn 12$6.9M
Assets in detailPt X, end of year
CashLn 1$441K
Cash and savings togetherLn 1–2$441K
Total assetsLn 16$513K
LiabilitiesLn 26$1.4M
Net assetsLn 32−$910K
OperationsPt I, VI
EmployeesI 546
VolunteersI 66
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$441K
Total assetsLn 16$0$513K
LiabilitiesLn 26$0$1.4M
Net assetsLn 32$0−$910K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$1.5M$1.5M
Pay of current officers, directors and key staffLn 5$55K$55K
Other salaries and wagesLn 7$1.8M$1.4M$418K
Other employee benefitsLn 9$232K$165K$67K
Payroll taxesLn 10$169K$129K$39K
Management feesLn 11a$692K$349K$197K$146K
Legal feesLn 11b$33K$13K$20K
Accounting feesLn 11c$30K$12K$18K
Other fees for servicesLn 11g$7K$3K$4K
Advertising and promotionLn 12$114K$114K
Office expensesLn 13$139K$38K$101K
OccupancyLn 16$951K$951K
InsuranceLn 23$1.1M$534K$557K
Other expenses (24a–d)Ln 24$925K$893K$32K
Total functional expensesLn 25$7.8M$5.2M$2.5M$146K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $5.8M$7.5M−$1.7M−$2.6M 990 PDF
FY2024 Viewing $6.9M$7.8M−$910K−$910K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $6,865,648 across 6 lines filed
VIII-1f All other contributions, gifts and grants$1,131,649
VIII-1h Total contributions, gifts and grants$1,131,649
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,281,429$5,281,429
VIII-3 Investment incomeExcluded from tax $1,919$1,919
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $450,651$450,651
VIII-12 Total revenueRelated to mission $5,281,429 · Unrelated business $0 · Excluded from tax $452,570$6,865,648
Part IX · Statement of functional expenses $7,775,235 across 14 lines filed
IX-2 Grants to domestic individualsPrograms $1,497,262$1,497,262
IX-5 Pay of current officers, directors and key staffManagement $54,653$54,653
IX-7 Other salaries and wagesPrograms $1,423,345 · Management $418,424$1,841,769
IX-9 Other employee benefitsPrograms $165,454 · Management $66,676$232,130
IX-10 Payroll taxesPrograms $129,482 · Management $39,212$168,694
IX-11a Management feesPrograms $349,247 · Management $196,628 · Fundraising $145,805$691,680
IX-11b Legal feesPrograms $13,335 · Management $20,102$33,437
IX-11c Accounting feesPrograms $11,765 · Management $17,735$29,500
IX-11g Other fees for servicesPrograms $2,849 · Management $4,294$7,143
IX-12 Advertising and promotionPrograms $113,673$113,673
IX-13 Office expensesPrograms $37,789 · Management $101,042$138,831
IX-16 OccupancyManagement $950,518$950,518
IX-23 InsurancePrograms $533,836 · Management $557,146$1,090,982
IX-24 Other expenses (24a–d)Programs $893,390 · Management $31,573$924,963
IX-25 Total functional expensesPrograms $5,171,427 · Management $2,458,003 · Fundraising $145,805$7,775,235
Part X · Balance sheet $513,408 assets, 10 lines filed
X-1 Cash, non-interest-bearing$441,333
X-4 Accounts receivable$24,414
X-9 Prepaid expenses and deferred charges$47,661
X-16 Total assetsStart of year $0$513,408
X-17 Accounts payable and accrued expenses$156,021
X-19 Deferred revenue$724,627
X-25 Other liabilitiesStart of year $0$542,500
X-26 Total liabilitiesStart of year $0$1,423,148
X-32 Total net assets or fund balancesStart of year $0−$909,740
X-33 Total liabilities and net assetsStart of year $0$513,408
Part XI · Reconciliation of net assets −$909,740 net assets at year end
XI-1 Total revenue$6,865,648
XI-2 Total expenses$7,775,235
XI-3 Revenue less expenses−$909,587
XI-4 Net assets at start of year$0
XI-9 Other changes in net assets−$153
XI-10 Net assets at end of year−$909,740

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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